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Mr. Myanganbayar is 27 years old. He lives with his wife and father in a rental apartment in the Songinohairhan district of Ulaanbaatar, Mongolia. His wife Tomor-Ochir runs her own small clothing retail business at a rented counter in the local market with her sister. His father has been working at state-owned organization for years now. Myanganbayar is a hairdresser and works at a barber shop. He is attending a language course and needs to exchange his old personal computer for a laptop computer that he can carry around to increase his efficiency. He is now requesting MNT 2,000,000 to buy a new laptop computer to support his education. He is an open-minded, hardworking, and neat man.

This picture of the borrower was taken at his wife's clothing retail counter.

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $5,900
    Average annual income
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,392.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Myanganbayar to buy a laptop computer to support his education.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 27, 2012
Dec 26, 2012
Currency Exchange Loss:
Jun 17, 2014